We don’t have to point out that fact that car insurance companies don’t want their policyholders to compare prices. Consumers who shop around for cheaper prices are highly likely to buy a new policy because there is a great chance of finding a cheaper policy. A recent auto insurance study discovered that consumers who compared rates regularly saved over $865 annually compared to other drivers who never compared rates.
If finding the best rates on Lexus LC 500 insurance is your target objective, then having some insight into how to quote prices and compare coverages can help you succeed in saving money.
If saving money is your primary concern, then the best way to find low-cost prices for car insurance rates is to compare prices annually from providers who can sell car insurance in Columbus. You can compare rates by following these steps.
- Get a basic knowledge of the different coverages in a policy and the modifications you can make to prevent rate increases. Many factors that are responsible for high rates like at-fault accidents, careless driving, and an imperfect credit score can be eliminated by improving your driving habits or financial responsibility. This article gives tips to help prevent high rates and find available discounts that you may qualify for.
- Quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from one company like Progressive and State Farm, while independent agencies can provide prices from multiple insurance companies.
- Compare the new rate quotes to your existing coverage to see if a cheaper price is available. If you can save some money and buy the policy, make sure coverage does not lapse between policies.
A good tip to remember is to compare identical deductibles and limits on each quote and to quote with as many auto insurance providers as possible. Doing this guarantees a fair rate comparison and the best price selection.
Finding cheaper Columbus car insurance rates is a fairly straight forward process. All that’s required is to invest a few minutes getting comparison quotes to find the company with low cost Columbus car insurance quotes.
Online shopping is fast and free, and it takes the place of having to waste gas driving to insurance agencies in your area. The fact that you can get quotes online makes this unnecessary unless you prefer the guidance of a local Columbus agent. It is possible with some companies find lower rates online but purchase the actual policy in an agency.
The car insurance companies shown below have been selected to offer price comparisons in Ohio. If more than one company is shown, we recommend you get prices from several of them to get a more complete price comparison.
Why you need to buy car insurance
Even though it can be expensive, insurance may not be optional for several reasons.
- The majority of states have minimum mandated liability insurance limits which means you are required to buy specific minimum amounts of liability insurance coverage if you want to drive legally. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your vehicle, more than likely the lender will force you to carry insurance to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender may have to buy a policy to insure your Lexus for a much higher rate and force you to pay for the expensive policy.
- Insurance safeguards not only your Lexus LC 500 but also your financial assets. Insurance will pay for most medical and hospital costs that are the result of an accident. One policy coverage, liability insurance, also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If you have damage to your Lexus as the result of the weather or an accident, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having car insurance are definitely more than the cost, particularly if you ever have a claim. Despite what companies tell you, the average driver is overpaying over $830 a year so we recommend shopping around at every policy renewal to save money.
Auto insurance discounts are available to lower rates
Auto insurance is not cheap nor is it fun to buy but there could be significant discounts that can dramatically reduce your bill. Many discounts should be triggered at the time of purchase, but some must be specially asked for before you get the savings.
- Telematics Devices – Drivers that enable their company to look at where and when they drive by using a small device installed in their vehicle such as State Farm’s In-Drive may get a rate reduction if they have good driving habits.
- E-sign Discounts – Some of the larger companies will discount your bill up to fifty bucks for buying your policy online.
- ABS Brakes – Anti-lock brake equipped vehicles can avoid accidents so companies give up to a 10% discount.
- Theft Deterrent System – Vehicles that have factory alarm systems and tracking devices can help prevent theft and earn discounts up to 10% off your Columbus car insurance quote.
- Air Bags and Passive Restraints – Factory options such as air bags or automatic seat belts could see savings as much as 30%.
Discounts lower rates, but most of the big mark downs will not be given to the entire policy premium. The majority will only reduce the price of certain insurance coverages like comp or med pay. Even though the math looks like you would end up receiving a 100% discount, it doesn’t quite work that way. Any qualifying discounts will cut the cost of your policy.
Some of the insurance companies who may offer many of the previously listed discounts possibly include:
When comparing rates, check with all the companies the best way to save money. Some of the earlier mentioned discounts may not be available in Columbus. If you would like to view auto insurance companies that offer many of these discounts in Columbus, click here.
Local insurance agents
Certain consumers would rather sit down and talk to an agent and doing so can bring peace of mind Experienced insurance agents can answer important questions and help file insurance claims. The biggest benefit of comparing car insurance online is the fact that drivers can get better rates but still work with a licensed agent.
To find an agent, once you fill out this form (opens in new window), the quote information is immediately sent to participating agents in Columbus who will give competitive quotes for your business. You won’t need to even leave your home since price quotes are sent to the email address you provide. If for some reason you want to get a rate quote from a specific company, you would need to search and find their rate quote page and submit a quote form there.
Selecting an insurance company should depend on more than just the quoted price. Here are some questions to ask:
- Will you work with the agent or an assistant?
- How long has the business existed?
- Are you getting all the discounts the company offers?
- Do they have cheaper tiers of coverage?
- Do they have designations such as AIC, CPCU, or CIC?
- Are claim adjusters local or do you have to take your car somewhere else?
When finding a reputable agency, you need to know there are two different types of agents and how they work. Insurance agencies in Columbus may be either exclusive or independent agents depending on their company appointments. Either one can insure your vehicles properly, but it’s good to learn how they are different since it can affect buying decisions.
Exclusive Car Insurance Agents
These agents normally can only provide a single company’s rates like State Farm, AAA, and Liberty Mutual. They generally cannot shop your coverage around so it’s a take it or leave it situation. Exclusive agents receive extensive training on their products and sales techniques which helps them compete with independent agents.
Shown below is a list of exclusive insurance agencies in Columbus that are able to give price quote information.
Independent Insurance Agents
Agents that elect to be independent are not employed by one company so they can quote policies with many different companies and potentially find a lower price. If they quote lower rates, they simply move your policy to a different company and the insured can keep the same agent. When comparing car insurance rates, it’s a good idea to get insurance quotes from several independent agencies to get the best comparison.
Below is a list of independent insurance agents in Columbus willing to provide price quote information.
What car insurance coverages do you need?
Having a good grasp of your car insurance policy aids in choosing the right coverages and proper limits and deductibles. The coverage terms in a policy can be confusing and coverage can change by endorsement. These are the normal coverages found on the average car insurance policy.
Auto liability insurance – This will cover damage or injury you incur to other’s property or people. It protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 25/50/25 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a total limit of $25,000 for damage to vehicles and property.
Liability coverage pays for claims like loss of income, court costs, medical services, repair bills for other people’s vehicles and repair costs for stationary objects. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as much as you can afford. Ohio requires minimum liability limits of 25/50/25 but you should consider buying higher limits.
The next chart shows why low liability limits may not be high enough to adequately cover claims.
Collision coverage – This coverage pays for damage to your LC 500 from colliding with another car or object. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims such as colliding with a tree, damaging your car on a curb, scraping a guard rail, hitting a mailbox and sustaining damage from a pot hole. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to increase the deductible on your LC 500 in order to get cheaper collision rates.
Coverage for medical payments – Med pay and PIP coverage reimburse you for expenses such as nursing services, pain medications, hospital visits and prosthetic devices. They are often used to fill the gap from your health insurance plan or if you lack health insurance entirely. Coverage applies to all vehicle occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not available in all states and may carry a deductible
Comprehensive coverages – This pays for damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things like a tree branch falling on your vehicle, theft and vandalism. The maximum payout your car insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage provides protection from other drivers when they do not carry enough liability coverage. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Because many people only carry the minimum required liability limits (25/50/25 in Ohio), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.
Quote more to save more
Budget-friendly car insurance in Columbus is possible on the web in addition to local insurance agencies, so you should compare both to have the best rate selection. Some insurance companies may not offer price quotes online and many times these regional insurance providers sell through independent insurance agencies.
We just showed you a lot of information how to lower your Lexus LC 500 insurance prices in Columbus. The most important thing to understand is the more price quotes you have, the better likelihood of getting the cheapest Lexus LC 500 rate quotes. You may even find the lowest priced car insurance comes from a lesser-known regional company. These smaller insurers may cover specific market segments cheaper as compared to the big name companies such as State Farm, GEICO and Nationwide.
Much more information about car insurance in Ohio can be read at the links below
- Driving in Bad Weather (Insurance Information Institute)
- Who Has Cheap Columbus Auto Insurance Rates After a Speeding Ticket? (FAQ)
- Who Has Affordable Car Insurance Rates for Drivers Over Age 50 in Columbus? (FAQ)
- Who Has Cheap Columbus Car Insurance for Unemployed Drivers? (FAQ)
- What Auto Insurance is Cheapest for a 20 Year Old Male in Columbus? (FAQ)
- Who Has Affordable Car Insurance Rates for a Dodge Ram in Columbus? (FAQ)
- Things to Know Before you Cancel Insurance (Allstate)
- Credit Impacts Car Insurance Rates (State Farm)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Side Impact Crash Tests (iihs.org)